3271 Us-20 Elgin, IL 60124
- Land
- 4.50 lot acres
Current Use by Public Records
- Land
Property Details for 3271 Us-20
- Lot size
- 4.50 lot acres
- Property type
- Land
- Property subtype
- Apartment buildings
Description
This exceptional 4.5-acre site in Elgin, Illinois, presents a unique investment opportunity. Located at 3271 US-20, Kane County, (APN: 06-18-225-004, 06-18-225-005, zip code 60124), the property is zoned for Multi-Family PAB and is approved for assisted living development. The city of Elgin strongly prefers multi-family development for this location. Significant site improvements totaling nearly $2 million have already been completed, including a storm water catch basin and retention pond, road access, signage, sanitation sewer and water connections, sidewalks, curbs, grading, black dirt removal, and landscaping. Preliminary plans for a 64-unit townhome development are available. The seller is willing to assist with project completion, and permits can be obtained within 60-90 days. Construction is estimated to take 16-18 months. This turnkey opportunity offers significant potential for investors seeking a fast-track project with substantial infrastructure already in place. The property's location and zoning make it ideal for a variety of multi-family developments, including the highly desirable assisted living facility. Don't miss this chance to acquire a fully prepared site ready for immediate development.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Elgin
- County
- Kane
- State
- Illinois
- Longitude
- -88.3683
- Latitude
- 42.0392
